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March 2018

Terry’s View

First-home buyer activity continues to rise around Australia, thanks to a range of factors. Those seeking a first purchase in the two biggest cities are being helped
by softer prices in Melbourne and Sydney and by incentives from the state governments in Victoria and New South Wales.

Affordability has improved in Perth and Darwin, thanks to several years of declining prices, and in Adelaide and Brisbane where price growth has been only moderate.

The HIA Housing Affordability Index for the December 2017 Quarter shows improvement to the overall national index thanks to gains in Sydney and Melbourne, and shows that affordability in the other six capital cities is now considerably better than the 20-year
averages.

The lending data shows heightened levels of activity by first-home buyers, a reality confirmed both by the ABS figures and by the quarterly surveys conducted by NAB.

Terry RyderAustralia’s Leading Independent
Property Researcher

FHB Rise Confirmed By NAB Report

The latest quarterly survey by NAB confirms other research showing that first-home buying activity is at its highest level in several years.According to the NAB survey, first-time buyers account for 39% of sales of new dwellings and 32% of sales of established dwellings.

Hobart is not only the current leader among the capital cities for capital growth in the past 12 months – but it’s the national leader on long-term capital growth. Research put together by Property Investment Professionals of Australia – using the House Price Index figures from the Australian Bureau of Statistics – shows that Sydney ranks last among the capital cities for long-term house price growth.

New research has refuted one of the most common beliefs in real estate – that areas with high crime rates have inferior capital growth.It shows that affordable areas attract strong demand, generating above-average price growth, regardless of the local crime statistics. This is particularly so if a
cheaper area is undergoing gentrification.